FINANCE | AerCap Holdings Reports Second Quarter Net Profit of $340 Million or $1.40 per Share


AerCap Holdings has reported a second quarter net income of $340 million or $1.40 per share, and an adjusted net income of $464 million or $1.91 per share.  At June 30, 2022, the company had total available liquidity of $17.0 billion.

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On Friday (August 11, 2022), AerCap Holdings N.V. reported their second quarter and H1 financial results for the period ending June 30, 2022.  The aircraft lessor reported a second quarter net income of $340 million or $1.40 per share and an adjusted net income of $464 million or $1.91 per share.  AerCap’s Q2 revenue increased year-over-year by 36 percent to $1.67 billion, while first half (H1 2022) revenue increased 49 percent compared to the same period last year to $3.46 billion.  At June 30, 2022, the company had $17.0 billion in total available liquidity.

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In Thursday’s announcment, AerCap’s Chief Executive Officer, Aengus Kelly, said,

“AerCap generated strong results in the second quarter, with a significant increase in activity across all of our businesses.  The ongoing recovery in air travel continued to strengthen across all major regions, and was manifested in high levels of cash collections and greater utilization of our fleet during the quarter.  The strength in passenger demand, coupled with supply constraints across the industry, is resulting in a favorable leasing environment.”

During the second quarter, AerCap executed 184 transactions including 125 lease agreements, 16 purchases and 43 sales.  The company also continued significant deleveraging, ending the quarter with an adjusted debt to equity ration of 2.8 to 1.  AerCap generated approximately $1.2 billion from operating activities during the second quarter, while also achieving strong cash collections, higher utilization rates, and a reduction in deferral balances.  As of June 30, 2022, 100 percent of the company’s aircraft orderbook has been placed through 2023.

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As of June 30, 2022 AerCap’s owned, ordered or managed portfolio included 3,599 aircraft, engines and helicopters.  The company’s average age of owned aircraft was 7.2 years (13.1 for previous generation aircraft and 3.8 years for new technology aircraft), with an average remaining contracted lease term of 7.2 years. 

AerCap Holdings N.V. is the global leader in aircraft leasing and maintains one of the most attractive order books in the industry.  The company serves around 300 customers in 80  countries with comprehensive fleet solutions.  AerCap is headquartered in Dublin and maintains offices in Shannon, Miami, Memphis, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle and Toulouse, along with other locations around the world.

In trading Thursday morning (August 11, 2022), shares in AerCap Holdings N.V. were up 1.53% to $48.45/share (11:10 AM EDT).

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